Biography|Patrick Lo — Seven Million Shares Priced at Fourteen Dollars Under NTGR

People treat NTGR as a quiet mid-cap that always printed on Nasdaq. The first print was a second attempt.

Netgear filed for an IPO in the autumn of 2000 and pulled the deal when the market closed. Nortel still owned the subsidiary then.

By 2002 Nortel had sold its remaining stake. Lo had been chief executive since March 2000 and chairman since March 2002.

On 31 July 2003 the company priced seven million common shares at fourteen dollars, the top of a twelve-to-fourteen range, on the Nasdaq National Market under the ticker NTGR.

Lehman Brothers led the book. Merrill Lynch and UBS were co-managers. Net proceeds were about ninety-eight million dollars.

The stock opened at 19.15 and closed the regular session at 17.69, up 26.4 percent from the offer price. About 27.22 million shares were outstanding, a market value near 381 million.

The prospectus still listed Santa Clara. The tape that mattered printed here, at the Nasdaq MarketSite on Times Square.

A first filing that dies in 2000 and a second that clears in 2003 is the whole plot. The consumer router company left the parent and found its own market.

Photo: Luca Marfè, CC BY 2.0, via Wikimedia Commons